Mortgage Business Credit industry faces higher ASIC levies By Sarah Simpkins 26 July 2021 Banks, mortgage brokers and lenders could receive sizeably larger bills for ASIC’s industry levies come January 2022. ASIC has published its draft Cost Recovery Implementation Statement for the 2020-21 financial year, with expectations of what each finance sector will be charged to fund its regulation. The levies, which are based on ASIC’s regulatory costs and business metrics, will be finalised in December and invoiced in January next year. The regulator has invited feedback on the draft statement, which can be submitted until 13 August. ASIC is forecast to recover $44.5 million in total levies from the deposit-taking and credit sector – contributing to a grand total of $337.5 million to be recovered across financial industries.